Robert Wilson and Shawn van der Meulen
On June 1 2021, the commission recommended that the transaction whereby ECP Africa, a private equity fund, proposed to acquire Burger King and Grand Foods Meat Plant Ltd from GPI be prohibited. empowerment entity wherein historically disadvantaged persons have held an ownership stake of more than 68%. The acquiring firms have no ownership by HDPs. public interest concerns in that it has a substantial negative effect on the promotion of a greaterand workers in firms in the market.
Merger parties have typically engaged with the competition authorities and agreed on conditions to address the commission's ownership concerns. The head of the commission's mergers and acquisitions division, Tamara Paremoer, is reported to have said that, regardless of the assessment on competition, the Competition Act requires that the authority also determine whether a merger can be justified on public interest grounds and that the commission is simply doing what the law requires it to do.
In the past, the tribunal has indicated that considerable caution must be applied when the competition authorities use public interest as a basis for their intervention, particularly when competition is unimpaired and when HDP investors, whose interests are directly affected, reject the commission's interventions.
No
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